Saranac Partners Ltd Grows Stake in Intuitive Surgical, Inc. $ISRG

Saranac Partners Ltd grew its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 24.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,065 shares of the medical equipment provider’s stock after acquiring an additional 2,363 shares during the quarter. Intuitive Surgical comprises approximately 2.7% of Saranac Partners Ltd’s portfolio, making the stock its 16th biggest position. Saranac Partners Ltd’s holdings in Intuitive Surgical were worth $6,850,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. raised its holdings in Intuitive Surgical by 300.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 33 shares during the last quarter. Holos Integrated Wealth LLC purchased a new position in Intuitive Surgical in the 4th quarter worth approximately $25,000. Olistico Wealth LLC bought a new position in Intuitive Surgical in the 4th quarter valued at approximately $28,000. Laurel Wealth Advisors LLC bought a new position in shares of Intuitive Surgical during the fourth quarter valued at $31,000. Finally, Turning Point Benefit Group Inc. boosted its position in shares of Intuitive Surgical by 833.3% during the fourth quarter. Turning Point Benefit Group Inc. now owns 56 shares of the medical equipment provider’s stock valued at $32,000 after buying an additional 50 shares during the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ISRG has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Intuitive Surgical from $625.00 to $550.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 22nd. Sanford C. Bernstein increased their price objective on shares of Intuitive Surgical from $740.00 to $750.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Evercore cut their target price on shares of Intuitive Surgical from $550.00 to $480.00 and set a “neutral” rating for the company in a research report on Monday, April 6th. Truist Financial lowered their price target on Intuitive Surgical from $650.00 to $580.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Finally, UBS Group cut their price objective on Intuitive Surgical from $570.00 to $550.00 and set a “neutral” rating for the company in a report on Tuesday, March 17th. Nineteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Intuitive Surgical has an average rating of “Moderate Buy” and an average price target of $579.33.

Insider Buying and Selling

In other Intuitive Surgical news, SVP Patricia L. Wadors sold 220 shares of the stock in a transaction on Friday, February 27th. The shares were sold at an average price of $499.71, for a total transaction of $109,936.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mark Brosius sold 645 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $485.01, for a total transaction of $312,831.45. Following the completion of the transaction, the senior vice president directly owned 1,613 shares of the company’s stock, valued at approximately $782,321.13. The trade was a 28.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 5,647 shares of company stock worth $2,760,359 in the last 90 days. 0.60% of the stock is owned by company insiders.

Intuitive Surgical Stock Performance

Shares of Intuitive Surgical stock opened at $441.58 on Wednesday. The stock has a market cap of $156.39 billion, a P/E ratio of 53.52, a P/E/G ratio of 3.51 and a beta of 1.51. The stock’s fifty day moving average is $461.52 and its 200 day moving average is $512.36. Intuitive Surgical, Inc. has a one year low of $417.74 and a one year high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.42. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.62 billion. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The company’s revenue was up 23.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.81 earnings per share. Analysts predict that Intuitive Surgical, Inc. will post 8.57 EPS for the current year.

About Intuitive Surgical

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon’s hand movements into finer, scaled motions of small instruments inside the patient. Intuitive’s business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.